Puqin Times and Indonesia ANTAM and IBI jointly build Indonesia Power Battery Industry chain Project
With a total investment of nearly US $6 billion, the project focuses on sub-projects such as nickel mining and processing, battery materials, battery manufacturing and battery recycling.
The establishment of the tripartite partnership is an important milestone in opening up the global layout in the Ningde era, and will also promote the development of Indonesia's electric vehicle industry.
On April 14th, Puqin Times, a subsidiary of Guangdong Bangpu, signed a tripartite agreement with Indonesia's PT AnekaTambang (ANTAM) and PT Industri Baterai Indonesia (IBI) to jointly build a power battery industry chain project, including nickel mining and smelting, battery materials, battery manufacturing and battery recycling. Guangdong Bangpu is a subsidiary of Ningde Times.
According to the agreement, the three parties will invest in the construction of power battery industry chain projects in FHT Industrial Park in East Hamahera County, North Maluku Province, Indonesia, and other related industrial parks in Indonesia, with a total investment of no more than 5.968 billion US dollars.
ANTAM is an Indonesian listed state-owned mining company. Indonesian Battery Company (IBI) is an Indonesian state-owned company, composed of the Indonesian National Oil Company, the State Power Company, the National Mining Company and ANTAM's newly established investment company specializing in battery production, mainly investing in battery and related industrial chain projects in Indonesia and overseas.
The project will further improve the strategic layout of Ningde era in the battery industry, ensure the supply of upstream key resources and raw materials, reduce production costs, and promote the company's battery recycling industry layout.
"the Indonesian power battery industry chain project is an important milestone for the global strategic layout of the Ningde era." Zeng Yuqun, founder and chairman of Ningde Times, said, "the Indonesian project will become a symbol of evergreen friendship between China and India, and we are full of confidence in the future development of the project."
Indonesian Minister of Maritime and Investment Co-ordination Luhut Binsar Pandjaitan said: "the framework agreement signed today is of great significance to Indonesia's strategy of building an electric vehicle industry chain. I believe that with the efforts of all parties, this project will be successfully implemented."
